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| Trey Morsbach |
DALLAS, TX – HFF announced it has arranged a $111.5 million
refinancing for a seven-property portfolio totaling approximately 1.4 million
square feet across five states.
HFF worked exclusively on behalf of the borrower, Madison
Core Property Fund, a real estate fund managed by New York Life Real Estate
Investors, to secure the fixed-rate loan that an HFF correspondent life company
split into a five- and seven-year tranche.
HFF is also servicing the loan.
The portfolio is 96 percent leased. Individual property
details are below:
Property Name & Location Property Type/Year Built
Size
Centerstone Plaza – Irvine, CA Office/Retail/1988
156,880 SF
Bolingbrook – Bolingbrook, IL Industrial/2001 283,630 SF
Auburn Park – Auburn, WA Industrial/2008 141,970 SF
Sumner North – Sumner, WA Industrial/2007 132,935 SF
Wellington Place – Medford, MA Multi-housing/2005
137 Units
Pointe at Warner Center – Woodland Hills, CA Multi-housing/2004 136 Units
Reserve at Sugarloaf – Duluth, GA Multi-housing/2001
333 Units
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| De'On Collins |
The HFF team representing the borrower was led by senior
managing director Trey Morsbach and associate director De’On Collins.
New York Life Real Estate Investors is a division of New
York Life Investments* and NYL Investors, LLC, wholly-owned subsidiaries of New
York Life Insurance Company. New York
Life Real Estate Investors is a full service, fully-integrated real estate
enterprise with more than 100 professionals.
The division has market-leading
capabilities in origination, underwriting, and investment in real estate equity
products and related debt, including real estate equity investments, commercial
mortgage loans, commercial mortgage backed securities, and unsecured REIT
bonds.
With over $37 billion in assets under management as of June 30, 2014,
New York Life Real Estate Investors is actively seeking to acquire additional
properties throughout the U.S.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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